Teekay Offshore Partners Increases Cash Distribution by 2.5 Percent
January 15 2014 - 4:15PM
Marketwired
Teekay Offshore Partners Increases Cash Distribution by 2.5 Percent
HAMILTON, BERMUDA--(Marketwired - Jan 15, 2014) - Teekay
Offshore GP LLC, the general partner of Teekay Offshore Partners
L.P. (Teekay Offshore or the Partnership)
(NYSE:TOO), has declared a cash distribution of $0.5384 per unit
for the quarter ended December 31, 2013, an increase of 2.5 percent
over the cash distribution of $0.5253 per unit for the quarter
ended September 30, 2013. The cash distribution for the quarter
ended December 31, 2013 is payable on February 14, 2014 to all
unitholders of record on January 31, 2014.
This 2.5 percent distribution increase and the 2.5 percent
distribution increase in the first quarter of 2013 are both based
on the increased distributable cash flow resulting from the
Partnership's acquisitions and newbuilding deliveries completed in
2013.
About Teekay Offshore Partners L.P.
Teekay Offshore Partners L.P. is an international provider of
marine transportation, oil production and storage services to the
offshore oil industry focusing on the fast-growing, deepwater
offshore oil regions of the North Sea and Brazil. Teekay Offshore
is structured as a publicly-traded master limited partnership
(MLP) and owns interests in 34 shuttle tankers (including
two chartered-in vessels), five floating production, storage and
offloading (FPSO) units, six floating storage and offtake
(FSO) units (including one committed FSO conversion unit),
four conventional oil tankers and one HiLoad Dynamic Positioning
(DP) unit. The majority of Teekay Offshore's fleet is
employed on long-term, stable contracts. In addition, Teekay
Offshore also has rights to participate in certain other FPSO,
shuttle tanker and HiLoad DP opportunities provided by Teekay
Corporation (NYSE:TK), Sevan Marine ASA (Oslo Bors:SEVAN) and
Remora AS.
Teekay Offshore Partners' common units trade on the New York
Stock Exchange under the symbol "TOO".
Teekay Offshore Partners L.P.Ryan HamiltonInvestor Relations
enquiries+1 (604) 609-6442www.teekayoffshore.com
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